After a few months in lockdown, it is great to start sharing our deals of the month with you again and this one is a doozy.

 

About the Deal

Our client came to us seeking a bridge to purchase, refurb and retain a property to grow their portfolio.

They wanted around £200,000 and to use two residential properties as security, but there were some question marks over whether they would be able to raise enough money to repay a loan.

To complicate things further, there were also some existing tenancy issues. An updated gas safety check was required before completion, which meant there had to be access to the property. This so happened to be during the worst stage of the pandemic, so it could have been understood if the tenant refused an engineer entry into their home.

Thankfully, the dispute was resolved and the gas check was eventually done. Then it was back to us. We communicated openly with the lender and offered a way to come to a mutual agreement whilst remaining realistic in what we would deliver and expect.

Subsequently the deal was agreed and completion of the new purchase was done, and our client now has a new addition to his portfolio ready to refurbish.

 

It’s the Little Things

Sometimes it’s the little things that make the greatest difference on a deal. However, at the core of every deal is two things: people and money.

If you’ve found yourself in the need for finance, whether in complicated circumstances or not, we can help. Get in touch today to speak to one of our friendly brokers and see what we can do for you.

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